Was this silver find (61 tons) discussed?

CNote

Sorry if it has been.

Shipwreck my rear, shipRICH!

Overdate

Around 1.7 million ounces, or about half a month's production of U.S. silver eagles.

I don't think it will have much impact on overall supply.

chumley

most of the ingots came in the convenient 1000 ounce size

CNote

<< <i>most of the ingots came in the convenient 1000 ounce size >>



I keep one in my back pocket. Ya know, just in case.

ricko

Something all of us who metal detect dream of.... finding a lost treasure.... it does happen - more frequently in Britain though. Cheers, RickO

Zrider

daOnlyBG

It's valued at what, $35 million? I wonder how much Odyssey's operational costs were, actually. Is it something like $2-3 million?

Timbuk3

I saw this episode on cable
a few months ago. Great
story !!!

Coins101

<< <i>Something all of us who metal detect dream of.... finding a lost treasure.... it does happen - more frequently in Britain though. Cheers, RickO >>

so, what kind of MD do you have considering this stuffa 3 miles deep!

PerryHall

Any idea what they will do with all this silver? I expect they will use it to create rounds, medals, and bars of various sizes commemorating the origins of this silver with all of the appropriate hype and with the corresponding premium over melt value.

Coins101

I saw something on MSNBC about it yesterday and the CEO or whatever of Odyssey said it was all going to be refined, basically at spot as the person interviewing him talked about how low silver was right now and asked him if he was going to hold it to see if the price of silver went up. They get 80% and the UK gets 20% of the proceeds. From there, who knows how it will be moved into the market place. Just think, if they were smaller bars, they could have made a lot more than spot selling it as "TREASURE!!!"

vpr

There is a collector's market for PM bars. Imagine getting these slabbed.